Katras Ceramics & Refractoies (P) Ltd., Kolkata V. I.T.O.,Ward-3(1), Kolkata

ITA 616/KOL/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 7538 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2012-2013
• Appeal Filed On: 28-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: IS AGAINST DATED PASSED
• Section: 131; 68; 144

Judgement Text

PAGE | 1 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH C, KOLKATA BEFORE SH. J.SUDHAKAR REDDY, ACCOUNTANT MEMBER & SH.S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ITA NO. 616/KOL/2019 (ASSESSMENT YEAR- 2012-13) ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER THIS APPEAL FILED BY THE ASSESSEE IS AGAINST THE ORDER DATED 05.03.2019 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS)-1, KOLKATA [HEREINAFTER CIT(A)] FOR AY 2012-13. 2. HEARD BOTH PARTIES AND PERUSED THE MATERIALS AVAILABLE ON RECORD. 3. THE LD. AR SUBMITS THE SUBSTANTIAL ADDITIONS HAVE BEEN MADE BY THE AO UNDER SECTION (HEREINAFTER U/S) 68 OF THE INCOME TAX ACT, 1961 (HEREINAFTER THE ACT) ON ACCOUNT OF SHARE CAPITAL AND PREMIUM AND CONFIRMED BY THE CIT(A). THE AO MADE SAID ADDITIONS BESIDES OTHER ADDITIONS ON ACCOUNT OF THE DISALLOWANCE OF EXPENDITURE AND INVESTMENT IN CAPITAL WORK IN PROGRESS IN EX-PARTE ORDER PASSED U/S 144 OF THE ACT. HE SUBMITS THAT THERE WERE NO COMPLIANCES BY THE ASSESSEE AND BY THE SHARE CAPITAL SUBSCRIBING COMPANIES TO THE NOTICES U/S 131 OF THE ACT AS THE NOTICES ISSUED U/S 131 OF THE ACT WERE NEVER SERVED ON ANY OF THE PARTIES. KATRAS CERAMICS & REFRACTORIES PVT. LTD. C/O. SUBASH AGARWAL & ASSOCIATES, ADVOCATES SIDDHA GIBSON, 1, GIBSON LANE, SUITE 213, 2 ND FLOOR, KOLKATA- 700 069. PAN- AACCK4886B VS INCOME TAX OFFICER WARD- 3(1), KOLKATA. (APPELLANT) (RESPONDENT) APPELLANT BY SH. SUBASH AGARWAL , ADV. RESPONDENT BY SH. C.J. SINGH , JCIT, SR.DR DATE OF HEARING 18 .0 7 .2019 DATE OF PRONOUNCEMENT 2 6 .07 .2019 ITA NO. 616/KOL/2019 (ASSESSMENT YEAR- 2012-13) PAGE | 2 HE PRAYED TO REMAND THE MATTER TO THE FILE OF AO FOR HIS FRESH DE NOVO ASSESSMENT AFTER GIVING THE ASSESSEE ADEQUATE OPPORTUNITY. 4. THE LD. DR DID NOT REPORT ANY OBJECTION FOR THE REQUEST TO REMAND THE MATTER TO THE FILE OF AO. IT IS NOTED FROM PAGE NO.-2 OF THE ORDER OF AO THAT NO COMPLIANCES WERE MADE BY THE ASSESSEE AND SHARE CAPITAL SUBSCRIBING COMPANIES IN THE ASSESSMENT PROCEEDINGS. THIS WAS BECAUSE NO NOTICES OR SUMMONS WERE SERVED BY THE AO ON THE ASSESSEE OR SHARE CAPITAL SUBSCRIBING COMPANIES WHO SUBSCRIBED TO THE SHARE CAPITAL AND PREMIUM. THEREFORE, IT IS CLEAR THAT THERE IS NO OPPORTUNITY FOR THE ASSESSEE AND THE SHARE CAPITAL SUBSCRIBING COMPANIES TO SUBSTANTIATE THEIR CLAIM BEFORE ASSESSING AUTHORITY. 5. WE FIND ON SIMILAR IDENTICAL ISSUES, THIS TRIBUNAL, REMANDING SUCH MATTERS TO THE FILE OF AO FOR HIS FRESH EXAMINATION. THEREFORE, TAKING INTO CONSIDERATION THE FACTS AND CIRCUMSTANCES OF THE CASE AND THE SUBMISSIONS OF LD. AR AND DR AS AGREED BY BOTH THE PARTIES, WE DEEM IT PROPER TO REMAND THE MATTER TO THE FILE OF AO FOR HIS FRESH ADJUDICATION IN ACCORDANCE WITH LAW. THE ASSESSEE SHALL COOPERATE IN THE ASSESSMENT PROCEEDINGS FOR SPEEDY DISPOSAL AND THE ASSESSEE IS IN LIBERTY TO FILE EVIDENCES TO SUBSTANTIATE ITS CLAIM. THUS, GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 26.07.2019. SD/- SD/- (J.SUDHAKAR REDDY) (S.S.VISWANETHRA RAVI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATE:- 26.07.2019 BIDHAN ITA NO. 616/KOL/2019 (ASSESSMENT YEAR- 2012-13) PAGE | 3 COPY FORWARDED TO: 1. APPELLANT- KATRAS CERAMICS & REFRACTORIES PVT. LTD., C/O. SUBASH AGARWAL & ASSOCIATES, ADVOCATES SIDDHA GIBSON, 1, GIBSON LANE, SUITE 213, 2ND FLOOR, KOLKATA- 700 069. 2. RESPONDENT- ITO, WARD- 3(1), KOLKATA. 3. CIT-KOLKATA 4. CIT(APPEALS)-1, KOLKATA (SENT THROUGH MAIL) 5. DR: ITAT -KOLKATA BENCHES (SENT THROUGH MAIL) BY ORDER AR/H.O.O ITAT, KOLKATA